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Large Electrical Contractor
NCListing DetailsOffice ID: ELECTRIC1
Status: ON HOLD
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $2,125,000
Gross Revenue: $4,431,312
Cash Flow: $632,353
12 Month Forecast: $6,000,000
Forecasted Cash Flow: $855,000
Inventory: $45,000
Inventory Included: Yes
FF&E: $190,000
FF&E Included: Yes
Accounts Payable: $514,286
Acreage: N/A
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Seller will provide SBA required portion of owner financing.
Reason for Sale:
The owners wish to relocate and pursue other interests.
Training:
Sellers will provide up to 80 hours of transition assistance at no additional cost within the first six months.
OperationsYear Established: 2008
Form of Ownership: S Corp
Employees (full-time): 36
Managers: 5
Business Hours: Normal business hours
Summary
Business Description:
The company is considered among the best in the area providing specialty electrical construction. The company has been built by experienced leaders with a strong multifaceted background in commercial service and construction. The company is known for delivering professional on-time quality service and workmanship. This company's track record is second-to-none experiencing explosive growth since its 2008 inception. Top line revenue in 2014 was $2.3m, 2015 increased 52% to $3.5m. During the first six months of 2016, the company recorded revenues of $3.0m and is forecasting year-over-year growth of over 70% to $6.0m. Profitability has also increased as the owners have surrounded themselves with a top -notch team of advisors and field employees who together look for ways to improve efficiency on a daily basis. New contracts are being awarded at a rapid rate in addition to projects being awarded by loyal repeat clients. Current backlog exceeds $2.2m. with $3.4m. in work in process (WIP). The company's success has been driven by over 36 full-time employees.
Historical Summary:
The business was formed in 2008 and is experiencing rapid growth.
Owner Qualifications:
Buyer should be familiar with large construction projects and electrical contracting.
Competition:
Most jobs are bid in a competitive environment. Because of their outstanding reputation, this company is asked to bid many projects.
Potential Growth:
Profitability could be increased by bringing certain services currently being outsourced in-house. New owners may elect to bid larger projects that are not currently being bid. Small investment in labor and equipment would allow one service area to double.
LocationType of Location: Stand Alone
Lease Expires: Dec 31, 2019
Option: N/A
Lease Security: $1,700
Monthly Rent: $2,600
Square Footage: 5000
Facilities:
The Triangle-based standalone headquarters is located in an industrial park. The lease is $2,600 per month, meets the company's current size requirements and features adequate parking.
Last Updated: Aug 2, 2017 / 2:46 PM
Financial Information Current as of: Jul 29, 2016 / 12:00 AM
Lender Pre-Approved!
Diamond Financial